Venezuelan President Nicolas Maduro has announced that the country has launched a national blockchain of the petro cryptocurrency.
MEXICO CITY (Pakistan Point News / Sputnik - 02nd October, 2018) Venezuelan President Nicolas Maduro has announced that the country has launched a national blockchain of the petro cryptocurrency.
"A new stage starts [on Monday], as we are launching a national Venezuelan blockchain which will be headquartered in Venezuela and will be developed by national professionals and scientists. This is what the 10-year plan for petro development will be based on," Maduro said on Monday local time, as broadcast by state tv.
According to him, starting from Monday, any Venezuelan will be able to register in the blockchain and acquire petro for convertible Currency.
"And from November 5, it will be possible to acquire petro for sovereign bolivars," Maduro added.
Maduro said that US, French and Colombian cyberattacks on the petro website had been registered earlier in the day. According to him, the attacks aimed at hindering the start of petro circulation.
The president then showed a digital wallet connected to the petro blockchain on his mobile phone, calling on everyone to register in the system. He specified that six major international cryptocurrency exchange companies would promote petro.
Maduro went on to say that he had signed new rules for petro exchange.
"Venezuela should move quickly toward talks on all the Venezuelan oil and its derivatives' sale for petro, and then to the actual sale. All Venezuelan oil should be soon sold for petro. This is really a good idea," Maduro said.
He emphasized that all international aviation fuel should be soon sold for petro.
Petro was released into circulation on February 20, and is the first oil-backed cryptocurrency in the world. One petro equals one barrel of Venezuelan oil, or $60.
Since August 20, Venezuela has had two currencies � petro and the sovereign bolivar, which was introduced to replace the strong bolivar over its hyperinflation. The strong bolivar also remains in use for the transition period.
